Bourbon CFO Resigns

French offshore services provider Bourbon
Corporation announced the resignation of Astrid de Bréon from her
position as Chief Financial Officer from July 11.

Since her arrival on the 1st of February, 2017, Astrid de Bréon
has largely contributed to Bourbon's transformation and to the
sustainable reorganization of the company's financial debt. She
will continue with her duties till her replacement and departure
from the company.

In another press release, Bourbon said that it has reached an
agreement with the majority of its creditors to withhold payment
of its loans and servicing of its debt.

A press release from the company said: "Bourbon announces having
signed a general waiver with its leasers and debt holders
representing the majority of its debt, thus allowing the group to
withhold the payments of its loans and the servicing of its
debt."

It added that aimed at protecting the group, this waiver allows
it to stay focused on its operational priorities and on the
implementation of its #BOURBONINMOTION strategic plan.

However, it did not disclose the total value of the agreement,
but as of the end of 2017, Bourbon had total borrowings and
financial liabilities of about $1.9 billion.

It further said that the company remains confident in its ability
to find before year end a balanced solution with all its lenders
- often long-standing partners - that suits all parties and
allows the company to adapt its financing to its future
development.